<em><strong>AMP price action shows an unprecedented increase in buying pressure, but the failure to sustain it warns of a retracement below $0.010.</strong></em>
<h3><strong>Key technical points:</strong></h3>
<ul>
 	<li>The AMP market price has increased by 20.10% over the past 24 hours.</li>
 	<li>The price action shows the increased demand last night dozing off.</li>
 	<li>The 24-hour trading volume of Amp is $119 Million, indicating a rise of 2250%.</li>
</ul>
<h2>Past Performance of AMP</h2>
<a href="https://coincodex.com/crypto/amp/">AMP price</a> action showed an overpowering growth on the buyer's side last night, resulting in a substantial bullish candle reaching the 100-day SMA(orange). However, the increased selling pressure at the bearish-aligned SMA pushes the prices under the 50-day SMA. Hence, despite a jump to $0.015, the market price close at $0.010 last night, and the Doji candle forming today warns of an evening star pattern.

<em>A bearish reversal candlestick pattern consists of three candles: a huge bullish candlestick, a small-bodied candle or a Doji, and a bearish follow-through candle.</em>

<img src="https://s3.tradingview.com/snapshots/d/DVNaBI0G.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/DVNaBI0G/" target="_blank" rel="noopener">Tradingview</a>
<h2><span style="font-weight: normal">AMP Technical Analysis </span></h2>
The phenomenal jump in AMP trading volume fails to support the bullish growth and plunges quickly today, leading to a small body candle. Hence, traders hoping for a bullish continuation must wait for closing above the 50-day SMA. The MACD and the signal lines display an upward trend that reaches the zero line, and the spread regrows to support the positive growth. Thus, the indicator reveals an underlying increase in bullish sentiments.

The RSI indicator indicates the slope spiking dramatically above the halfway line after taking constant support from the 14-day SMA. Therefore, the indicators adopt an optimistic view compared to the <a href="https://www.cryptoknowmics.com/news/amp-technical-analysis-falling-channel-warns-against-downfall/">AMP</a> price analysis. Additionally, the bullish divergence in the RSI slope compared to the last drop to $0.008 suggests the possibility of a prolonged uptrend. In a nutshell, the AMP technical analysis shows the indicators against the selling pressure displayed in the long-wick daily candle. Hence, traders hoping for further bullish growth must be patient for a price action confirmation.
<h2><span style="font-weight: normal">Upcoming Trend</span></h2>
Suppose the AMP prices sustain above $0.010 and surpass $0.015; the uptrend can potentially jump to the $0.0175 mark.

<strong>Resistance Levels</strong>: $0.015 and $0.0175

<strong>Support Levels:</strong> $0.010 and $0.008

AMP Technical Analysis: AMP Market Price Drops Under The 50-day SMA

AMP Technical Analysis shows an outstanding increase in buying pressure but the failure to sustain it warns of a retracement below $0.010.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

AMP Technical Analysis: AMP Market Price Drops Under The 50-day SMA

Top Picks